In connection with the report published by the non profit organization named Development International on the “disclosure performance of 370 Smelters or Refiners (SORs) pursuant to leading assurance standards and the OECD Due Diligence Guidance”, Metalor wants to reiterate to its customers, suppliers and stakeholders that:

1. Metalor plainly rejects the disparaging comments and allegations on Metalor activities made in that report. Those are simply false and do not reflect the reality of Metalor ‘ diligence and business;

2. Metalor is not sourcing “dirty gold” at all;

3. Metalor is proud of having deployed a solid and reliable compliance and due diligence process to prevent being involved in any kind of doubtful business;

4. Metalor has been successfully and consistenly audited by LBMA, RJC and other independent international organizations on its business and its compliance process; .

5. The report casts doubts on Metalor’s involvement on the Goldex scandal. In this respect Metalor wants to highlight that:

a. Its commercial relationship with this company was minimal both in terms of time and business

b. Metalor due diligence was duly followed and that as a result of that Metalor contacted in 2013 and 2014 the Colombian taxes and customs Office (DIAN) as well as the Colombian Office specialized in the fight against drug traffic and money laundering (Direccion de fiscalia nacional especializada antinarcoticos y lavado de activos), to inquiry about Goldex; Metalor got at that time the written confirmation of the lack of evidence of criminal conduct of the management of C.I. Goldex. and the company itself;

c. in April 2014 Metalor terminated its commercial relationship with C.I. Goldex as a precautionary measure in order to protect the reputational risk of Metalor and its customers.

d. Metalor did keep the Swiss authorities (in charge of the supervision of the money laundering matters within the precious metal sector) duly informed of steps taken by Metalor.

6. The comments on Metalor made by Development International in the report only reflect the lack of ethics and professionalism of this NGO that regrettably has not verified its data against factual information

7. Metalor has already taken a legal action against Development International e.V. to defend its legitimate interest in this matter